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CFO Interview Question:
Do you know what is Convention of Conservation?
Submitted by: MuhammadThis accounting convention is generally expressed as to “anticipate all the future losses and expenses, without considering the future incomes and profits unless they are actually realized.” This concept emphasizes that profits should never be overstated or anticipated. This convention generally applies to the valuation of current assets as they are valued at cost or market price whichever is lower.
Submitted by: Muhammad
Submitted by: Muhammad
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